Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Justice and Equality further to Parliamentary Questions No.183 and 184 of 9 October 2012, if he will provide in tabular form the number of residential properties in the State that are owned by companies incorporated in the State; the number of residential properties in the State owned by companies incorporated outside the State; the number of residential properties in the State owned by trusts set up within the State and the number of residential properties in the State owned by trusts set up outside the State. [45984/12]

Alan Shatter (Dublin South, Fine Gael)
Link to this: Individually | In context | Oireachtas source

There are two systems for recording property transactions in Ireland, the system of registration of title operated by the Land Registry and the system of recording deeds operated by the Registry of Deeds. Both systems are under the control of the Property Registration Authority. Where title or ownership is registered in the Land Registry, the legal ownership is entered on folios which form the registers maintained in the Land Registry. Where title is registered in the Land Registry it is referred to as "registered property" and is open to public inspection.

The Registry of Deeds provides a system of recording the existence of deeds and conveyances affecting unregistered property (i.e. property which has never been registered in the Land Registry). The effect of registration of a Deed in the Registry of Deeds is generally to govern priorities between documents dealing with the same piece of land.

I am advised by the Property Registration Authority that the information sought by the Deputy is not available. The Land Registry registers the ownership of legal estates and interests. The register of title maintained by the Authority does not distinguish between residential and commercial properties. Under Section 92(1) of the Registration of Title Act 1964, no notice of a trust may be entered on the Register. Therefore, property held under a trust is not readily identifiable as such from the folios of the Register.

The address of any company registered on the folios of the Land Register is the address of the company in the State for the purpose of the service of notices under the provisions of Section 106 of the Registration of Title Act 1964. Therefore, an inspection of the registers of ownership will not reveal whether a company was incorporated within or outside of the State.